Hi Baobaolover

Yes, it is likely that there will be double stamp duty, i.e. both you and the new purchaser will have to pay stamp duty.

I suggest you take your contract to a solicitor or conveyancer and tell them your plan.  Solicitors and conveyancers are doing this every day and it will be very much easier for you to get them to do it, as they know all about the requirement to put deposits into trust accounts, etc, etc.

Cheers.  Paul

Hi KCM

Unfortunately there doesn't seem to be a "one size fits all" answer.  The best answer for you, is based on many things, including your stage in life.  For example, in regard to the 99% / 1% arrangement you mentioned, you may chose to keep this property well into your retirement, with the result that you wouldn't be able to split the income from the property between you.

A Trust stucture may be best for your situation but, this too, has pluses and minuses.  I'd suggest you have a chat with Richard Taylor, on 07 3720 1888, regarding the best possible stucturing of your loans.

Cheers,  Paul

Hi Fred

There is a list of vendor finance specialist lawyers at:
http://www.vendorfinancelawyer.com.au/vendor_finance_specialists.htm

We use Tom Forster for all our Qld transactions but use a NSW based accountant.  Tom may be able to steer you towards a vendor finance savvy, Qld based, accountant.

Cheers,  Paul

Hi Fred

We call what you're proposing, our "negative2positive" process.  It should allow you to sell your property at a premium price and allow you to get a deposit up front, positive monthly cash-flow and a lump sum payment, we call our back-end profit, when the new vendor finance buyers refinance.

Sandra on the Testimonials page of our website is a negative2positive client.

Cheers,  Paul

Remember, what other people think about you, is none of your business 

Cheers,  Paul

Hi Craig

Welcome to the forum and I hope you enjoy your time here.

1.  Your unit doesn't seem to be performing too well but, if you sell it traditionally, at this point the "numbers" don't look very appealing.  You could possibly consider selling it with a vendor finance Instalment Contract.  Selling with vendor finance will usually get you a premium price for your property but the money comes in over time.  Considering that selling it traditionally may put no extra money in your pocket, it may be worth considering.

2.  Check with the mortgage specialists on this forum but some lenders won't allow you to revalue and increase your loan debt until the loan has been in place for 12 months.  Once your over that hurdle, a revaluation may give you access to $32,000 for your next IP purchase (at 80% LVR).

3.  We're biased and very happy because we started our vendor finance business 7 years ago and it's done well.  However, all the techniques you mention work well, if you due the necessary amount of research and due diligence and then stick with it.

Cheers,  Paul

Hi Andrew

The latest Australia Property Investor magazine shows the "annual growth over 10 years" for Kanwal as 7.2%.

Cheers,  Paul

Hi Ajay

It's always a good idea to keep a close eye on your costs.  Let's have a look at the ongoing costs you mentioned:
1.  Strata Fees – You could stand for election on the Strata Committee. It's usually quite easy to get elected as most people don't seem to want to get involved.  This is the committee that overseas all expenditure on the building.
2.  Water rates –  Make sure your property manager charges your tenant that proportion of the water rates that can be charged to the tenant in your State (usually water usage).
3.  Electricity Bills – The electricity bill for your individual unit is paid by your tenant.  However electricity usage in the "common areas" of your building is paid by Strata.
4.  Property Management – You could manage the property yourself.  We had a go at this and didn't like the experience.  We now shop around for a good price for our property management.  However to us, price in property management, is secondary to getting a good property manager.  A bad one can easily lose you the money you save on management fees.

Cheers,  Paul

Hi fredo

As Tamar says, yes you can use vendor finance to sell existing investment properties you own.  We call this our negative2positive program.  Sandra, in the "Testimonials" area of our website, is a negative2positive client. 
 
It's also important to note that different States have different rules regarding what you can and can't do with the mortgage you have on the property you're selling with an Instalment Contract (IC).  NSW will only allow you to refinance up to the new buyers debt level, i.e. you cannot refinance the property above what the new buyer currently owes you for the property.  In Victoria, once you enter into an IC for the sale of the property, you cannot increase the debt level of your mortgage on that property, until the sale has completed, i.e. until the new buyers have refinanced or sold the property.
 
Cheers,  Paul

Hi new

I'd suggest you have a talk with Richard.  He has been helping a hell of a lot of forumites here for a long time and we recommend him highly.

Cheers,  Paul